Positive Result of an Information Cascade

There have been many examples of information cascades discussed in class, including restaurant choices, routes of travel, fashion/fads and rides at an amusement park. One of the more significant debates of the 20th century and the early part of this century has been on the climate, namely the issue of global warming. This article discusses the media coverage on this debated topic. It refers to the information cascade that has occurred, due to the majority of scientists who support the mainstream explanation of the increased global temperature. The author of the linked column accepts global warming, just not the effects that it has on particular climate changes. The proposition described is that the media provides more emphasis on the evidence supporting the majority explanation of global warming, rather than equitably distributing coverage on alternative reasons.

What we have also learned is that in an information cascade, everyone involved is behaving rationally, but that may not always be the right action to take. As for the everyday person, many of them are not entirely informed, or even adequately informed to make a knowledgeable judgment on the global warming debate. Putting any political affiliation aside, I have found that many realize this and they tend to put their trust in the scientists that are experts in the field. There is also a strong possibility that they are influenced by the alleged media coverage that the article argues about. One of the results of this wide acceptance of the mainstream argument of global warming has produced a beneficial event worldwide. ‘Earth Hour’ as it is called, occurred this weekend in 35 countries, which led to 60 minutes of black-out from major buildings, businesses and homes. Any proponent of any current global warming explanation, or even one who doesn’t believe in it at all, must see this event as a positive result of an information cascade, due to the reduction (though small) of greenhouse gas emissions. This contribution demonstrates how people all over the world can come together and make a difference.

http://www.opiniojuris.org/posts/1199289350.shtml

http://news.yahoo.com/s/afp/20080329/sc_afp/climatewarmingaustraliaearthhour_080329115530

Posted in Topics: Education

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